NextEnergy Solar Fund Limited Acquisition (9296C)
21 April 2017 - 4:00PM
UK Regulatory
TIDMNESF
RNS Number : 9296C
NextEnergy Solar Fund Limited
21 April 2017
21 April 2017
NextEnergy Solar Fund Limited ("NESF", or the "Company")
Acquisition of six plants totalling 28MWp with an investment
value of GBP30.5m
-- NESF has now secured 44 assets totalling 467MWp with an
aggregate investment value of GBP536m
-- Share purchase agreements exchanged to acquire:
o 4.99MWp Aller Court and 4.99MWp Rampisham solar plants from
one counterparty
o 4.99MWp Hill and 3.00MWp Forest Farm solar plants from a
second counterparty
o 4.99MWp Wasing and 4.99MWp Flixborough solar plants from a
third counterparty
-- Completion expected during the first half of 2017
NESF is pleased to announce the signing of six share purchase
agreements for six separate projects, with three unrelated
counterparties, to acquire the special purpose vehicles owning
Rampisham, Aller Court, Hill, Forest Farm, Wasing and Flixborough
solar plants. The plants are located in Dorset, Somerset,
Oxfordshire, Hampshire, Berkshire and South Humberside
respectively.
All six plants were successfully connected in advance of the 31
March 2017 deadline for 1.2 Renewable Obligation Certificates
("ROC") assets and, therefore, are expected to receive appropriate
ROC accreditation in advance of NESF completing their respective
acquisitions.
NESF continues to pursue further transactions from its pipeline
of acquisition opportunities and expects to announce further
investments in due course.
For further information:
NextEnergy Capital Limited 020 3239 9054
Michael Bonte-Friedheim
Aldo Beolchini
Cantor Fitzgerald Europe 020 7894 7667
Sue Inglis
Fidante Capital 020 7832 0900
Robert Peel
Justin Zawoda-Martin
Shore Capital 020 7408 4090
Bidhi Bhoma
Anita Ghanekar
Macquarie Capital (Europe)
Limited 020 3037 2000
Nick Stamp
MHP Communications 020 3128 8100
Andrew Leach / Jamie
Ricketts
Notes to Editors:
NextEnergy Solar Fund (NESF)
NESF is a specialist investment company that invests in
operating solar power plants in the UK. Its objective is to secure
attractive shareholder returns through RPI-linked dividends and
long-term capital growth. The Company achieves this by acquiring
solar power plants on agricultural, industrial and commercial
sites.
NESF has raised equity proceeds of GBP465m since its initial
public offering on the main market of the London Stock Exchange in
April 2014. It also has credit facilities of GBP270.2m in place
(GBP150m from a syndicate including MIDIS, NAB and CBA; MIDIS:
GBP54.7m; Bayerische Landesbank: GBP43.8m; and NIBC: GBP21.7m).
NESF is differentiated by its access to NextEnergy Capital Group
(NEC Group), its Investment Manager, which has a strong track
record in sourcing, acquiring and managing operating solar assets.
WiseEnergy is NEC Group's specialist operating asset management
division, providing solar asset management, monitoring and other
services to over 1,250 utility-scale solar power plants with an
installed capacity in excess of 1.7 GW.
Further information on NESF, NEC Group and WiseEnergy is
available at www.nextenergysolarfund.com, www.nextenergycapital.com
and www.wise-energy.eu.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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